NIKE (NYSE:NKE) Announces Earnings Results

NIKE (NYSE:NKE) posted its quarterly earnings results on Tuesday. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18, Briefing.com reports. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 EPS.

NIKE Stock Performance

Shares of NYSE:NKE opened at $83.10 on Thursday. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The stock has a market capitalization of $125.43 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company’s 50 day simple moving average is $80.50 and its 200 day simple moving average is $86.39.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NKE shares. Wedbush lowered their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday. Finally, Truist Financial dropped their price objective on NIKE from $85.00 to $83.00 and set a “hold” rating on the stock in a research note on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.04.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.